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bank loan....

(Querist) 05 December 2008 This query is : Resolved 
my father gifted me the land just few days back and registered on my name....can i take bank loan on that now instead of selling that land....if yes what is procedure to get loan in banks
Prakash Yedhula (Expert) 06 December 2008
You can very well take a bank loan. All you have to do is to submit the following documents:

1. Gift/Settlement Deed
2. Title Deeds
3. Encumbrance Certificates
4. Tax receipts
5. Legal opinion if required
Vinjamuri Venkata Rao (Expert) 06 December 2008
Sure, you can obtain Bank Loan by pledging your gift deed property. by producing link documents and original Gift Deed other required documents menctioned above by Mr. Y Prakash. In addition to that you have to show your repayment capacity by producing your income particulars. pl contact for further details.
Adv.Shine Thomas (Expert) 06 December 2008
In addition to the above documents you have to produce a location map of the property issued from the villege office.
Jithendra.H.J (Expert) 06 December 2008
some banks wont lend on the gift deed,
you better approach the bank in which you want to obtain financial assistance, they tell you which all the documents required and from which advocate you have to get legal opinion etc.,
Guest (Expert) 06 December 2008
yes, you can take a loan, to know the procedure please contact the bank
A. A. JOSE (Expert) 06 December 2008
You can, and you are eligible to obtain bank loan. If any difficulty in this regard, you may contact the Banking Ombudsman and RBI or consumer forum.

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